[ET Net News Agency, 26 July 2018] Dafeng Port Heshun Technology (08310) said it
expects to record a loss after taxation of HK$60 million for the six months ended 30 June
2018, comparing to a profit of HK$5.5 million for the corresponding period in 2017.
The loss was mainly due to the substantial loss of the group's integrated logistics
freight services for the six months ended 30 June 2018; the one-off subsidies received
from the government by Dafeng Harbour Port Logistics (Dafeng Logistics), which was
disposed by the company in June 2017, for the period in 2017 whereas no such subsidies was
recognised for the same period in 2018; the one-off gain recognised from the disposal of
Dafeng Logistics which was completed on 30 June 2017, for the period in 2017 whereas no
such gain was recognised for the period in 2018; the one-off gain recognised from the
disposal of certain of the group's property, plant and equipment for period in 2017
whereas no such gain was recognised for the period in 2018; the increase in the finance
costs of the group; the increase in administrative expenses incurred in relation to the
placing of the unlisted secured bonds of US$50 million which was completed on 29 March
2018; and the substantial loss of the group's petrochemical products trading business for
the period in 2018 as compared to a profit for the period in 2017.
The interim results are expected to be published by no later than 10 August. (SC)